Woodside Energy has been labelled “grossly negligent” by the Conservation Council of Western Australia (CCWA) after the company announced plans to abandon its Scope 3 investment and emissions targets.
CCWA Executive Director Matt Roberts said Woodside’s decision to dump targets for reducing emissions released when customers burn the gas it sells was a dereliction of its clean energy obligations.
“These emissions account for about 90% of the company’s total climate impact and to walk away from its responsibility for the global climate carnage inherently caused by its product highlights its profits at all cost approach,” Mr Roberts said.
“Woodside CEO Liz Westcott says the expected pace of the energy transition has changed, but that’s only because fossil fuel corporations like Woodside use all the delay tactics they can to keep their industry on life support.
“Woodside’s gas is displacing renewables in Asia, as well as here in Western Australia. Woodside uses lobbyists and donations to secure government subsidies that keep the gas industry alive.
“Woodside takes Australian gas for free and exports it overseas, driving up climate pollution and domestic energy prices. Its time they were held accountable and not allowed to cut and run at a time when the impacts of climate change have never been more prevalent in Australia and around the world.
“This emissions backdown comes at the same time as the government is doing a review of the Safeguard Mechanism (SGM).
“It demonstrates that without proper oversight and real obligations for change, we will continue to see corporations walk away from community interests. Currently we're not seeing any emissions reductions out of WA overall - and the SGM is a significant reason why that's the case.
"Woodside's half-yearly results show a year-on-year profit increase of 27% — meanwhile, the company continues to get most of its gas for free and pays marginal amounts of tax to export it overseas.
"Woodside is profiteering from war in the Middle East while ordinary Australians face increased energy bills and cost of living expenses exacerbated by the escalating climate crisis.
“At the same time, investors continue to express growing frustration over Woodside's climate strategy. Focusing solely on traditional oil and gas projects like the Browse project - while ignoring global decarbonisation trends - risks investing in assets that will become unviable as the world transitions to renewable energy technology.
“Gas is a dying industry that relies heavily on government support rather than economic logic.”
ENDS
Media contact: John Cooke – 0433 679 780